Acumen Pharmaceuticals (NASDAQ:ABOS) Stock Price Expected to Rise, BTIG Research Analyst Says

Acumen Pharmaceuticals (NASDAQ:ABOS) had its price objective boosted by BTIG Research from $7.00 to $8.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price objective would suggest a potential upside of 139.52% from the company’s previous close.

ABOS has been the topic of several other research reports. Bank of America reduced their price target on shares of Acumen Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research report on Friday, January 9th. Finally, Wall Street Zen upgraded shares of Acumen Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.00.

Acumen Pharmaceuticals Price Performance

Shares of ABOS stock opened at $3.34 on Monday. Acumen Pharmaceuticals has a 52 week low of $0.86 and a 52 week high of $3.60. The stock has a market capitalization of $202.30 million, a PE ratio of -1.50 and a beta of 0.20. The company has a debt-to-equity ratio of 0.29, a quick ratio of 6.02 and a current ratio of 6.02. The stock’s fifty day moving average is $2.54 and its 200-day moving average is $2.08.

Insider Buying and Selling at Acumen Pharmaceuticals

In other news, CEO Daniel Joseph Oconnell sold 37,755 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $1.99, for a total transaction of $75,132.45. Following the transaction, the chief executive officer owned 619,982 shares of the company’s stock, valued at $1,233,764.18. This represents a 5.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 149,818 shares of company stock worth $285,057 in the last ninety days. Insiders own 7.10% of the company’s stock.

Institutional Trading of Acumen Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. acquired a new position in Acumen Pharmaceuticals during the 3rd quarter valued at about $27,000. Marex Group plc acquired a new stake in shares of Acumen Pharmaceuticals during the 2nd quarter worth approximately $39,000. Independent Advisor Alliance acquired a new stake in shares of Acumen Pharmaceuticals during the 4th quarter worth approximately $40,000. PFG Investments LLC raised its stake in shares of Acumen Pharmaceuticals by 65.2% during the fourth quarter. PFG Investments LLC now owns 19,000 shares of the company’s stock worth $40,000 after buying an additional 7,500 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in Acumen Pharmaceuticals in the fourth quarter valued at approximately $44,000. 71.01% of the stock is owned by institutional investors.

Acumen Pharmaceuticals Company Profile

Acumen Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of oral small molecule therapies for neurodegenerative diseases. Leveraging a proprietary drug discovery platform that integrates chemoproteomics, high-throughput screening and computational chemistry, the company seeks to identify and optimize compounds that selectively modulate pathological protein aggregation. Its approach is designed to address the underlying biology of conditions such as Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis and related proteinopathies.

The company’s pipeline comprises multiple lead candidates at various stages of preclinical and early clinical development.